Maxam Gold Corporation Announces Royalty Contracts Let For Extraction Technology

ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.

SUBSCRIBE/UNSUBSCRIBE |

Conservation & Wildlife

Corporate Responsibility

Science & Technology

Syndication Partners

**************************************************************************

E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE

**************************************************************************

FOR IMMEDIATE RELEASE

Maxam Gold Corporation Announces Royalty Contracts Let For Extraction Technology

ILLINOIS, EAST PEORIA, Mar. 8 -/E-Wire/-- Maxam Gold Corporation(MXAM), President and CEO Dale L. Runyon announced today that Maxam Resource Recovery, LLC, a Maxam wholly owned subsidiary, has signed contracts with two companies to process Fly Ash at their proposed processing facilities using Maxam's Process Technology.

The Illini Group, LLC has assigned 25% ownership to Maxam Gold Corporation, plus 5% net profit royalty to Maxam Resource Recovery, LLC, from fly ash processing. Annual fly ash production from their two proposed fly ash processing facilities is estimated at 650,000 tons.

The Spartan Group, LLC has assigned 5% net profit royalty to Maxam Resource Recovery, LLC from their proposed processing facility. Annual fly ash production from their first proposed fly ash processing facility is estimated at 400,000 tons.

Both Illini Group and Spartan Group are researching additional fly ash production facilities for inclusion in the Maxam agreements. Present facilities are located in Illinois and Indiana.

Presently, annual production of CCPS (Fly Ash) exceeds100-million tons, of which only 25-million tons is marketed in the United States. Fly Ash is used as (1) a pozzolan to partially replace Portland cement in ready mixed concrete and concrete products; (2) an additive to portland cement to produce a portland pozzolan blended cement; (3) an additive in down hole cementing of oil wells; (4) a primary constituent in flowable grout to fill voids under concrete slabs and underground tank voids and the CCPS industry has determined that greater quantities of Fly Ash could be marketed if detrimental elements were removed, or at least reduced.

Preliminary laboratory tests indicate that between 79% and 98% of several metals in commercial quantities are removable using the Maxam process technology. Analyses from 13 of the 15 electric generating plants reflected that all of the environmentally detrimental elements were reduced to acceptable levels, leaving the Fly Ash to meet EPA ground water quality standards. Utilization of the Maxam process, from results of these tests, allows processing facilities to provide Fly Ash contract marketers with greater quantities of more marketable products.

MAXAM established Maxam Resource Recovery, LLC (MRR) To provide specific concentration on the business of extraction and recovery of metals in commercial quantities from the Fly Ash produced at coal fired power generating plants. When practical MRR will establish a separate operating entity at each power generating plant contracted for the beneficiation of Fly Ash. It is intended that this decision will result in additional profit margins for power generating plants, contract Fly Ash marketers, and of course Maxam Resource Recovery, LLC.

FORWARD LOOKING STATEMENT

All statements, trend analyses and other information contained in this news release and any other statements by Maxam or its management or oral statements relative for markets for Maxam products and trends in Maxam operations or financial results, and any other statements including such words as "believe", "anticipate", "plan", "estimate", "expect", "projected", "proposed", "intent", "could", "should", "goal", "target", "optimistic", plus any other similar words, constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks, uncertainties and many other factors which could cause the actual results to be considerably different from those anticipated by the forward-looking statements. Such factors include, among others: general economic conditions, prevailing interest rates, stock and credit market factors, any factors that could impact Maxam's ability to sell its services and products, ability to borrow and costs attendant thereto, the market value of Maxam's investment portfolio, levels of default on payables, Maxam's levels of synergistic success with other companies, client response to Maxam's services and products, any changes or actions caused by Federal or State regulations or laws, increasing competition, restrictions on the ability to sell capital and/or finance assets of the company, and risk factors connected by filings with the SEC and other governmental controlled agencies.

Maxam Gold Corporation

Dale Runyon, CEO,(309) 699-8725,

Fax (309)699-1275 [REDACTED-EMAIL]

**************************************************************************

To Transmit Your News Over E-Wire, visit http://www.ewire.com or

call 1-[REDACTED-PHONE]. E-Wire Is Broadcast To Millions Of Readers Worldwide

**************************************************************************